Lawrence Stephens’ Real Estate Finance & Banking team have acted for valued client, OakNorth Bank, to facilitate a £10.6 million loan to Nine Points Property.
The Litchfield-based commercial landlord and developer primarily focuses on the residential and care sector within the UK, purchasing care homes, residential properties and offices and investing in refurbishment to convert them into homes for young adults, specialist educational institutions and family assessment centres.
The significant loan will enable Nine Points Property to deliver its long-term buy-and-build strategy and further enhance the success of the business.
The deal was led by Senior Director, Steven Bernstein, and Senior Associate, Indre Johnston on the banking side, while Solicitor Stavros Theophilou managed the property element to the transaction.
Indre Johnston, Senior Associate, comments:
“It was a pleasure to act for OakNorth on this transaction for Nine Points Property; this substantial loan will undoubtedly make a huge impact on the business’s development strategy and provide much needed property solutions for these specialist sectors. We always enjoy working collaboratively with Kevin Harwood, Greg Manson and the wider Debt Finance team at OakNorth and look forward to our future projects together.”